STATISTICS: FY2015: Turkish insurers maintained the SEE market "in black"

Last year, the SEE insurance market (inclusing Cyprus, Greece and Turkey) totaled about EUR 14.04 billion in GWP, 2.44% more y-o-y, according to preliminary figures centralized by xprimm.com. Of this figure, about 70% was generated by Turkish insurers, more than a quarter by Greek insurers, while the remaining five percentage points by the Cypriot market.

The aggregate regional gross written premiums portfolio consisted of 23% - life insurance, 20% - property line, 37% - motor policies and about 2.5% General TPL insurance, the remaining 16.5% being accounted by other non-life subclasses.

Click HERE to download the FY2015 SEE aggregate market figures.
  • Aggregate GWP portfolio & per countries;
  • Aggregate claims portfolio & per countries;
  • Growth-rates;
  • Market shares.
Per countries, the Turkish insurance sector ended 2015 with GWP of EUR 9.7 billion, 6% up y-o-y. In local currency, given the Turkish Lira depreciation throughout the year, the market dynamic seems even better, with a GWP y-o-y increase of over 19%, to TR 31.02 billion. (Click HERE for more details)

According to data published by the Insurance Association of Cyprus - IAC, last year, the total volume of GWP by the member companies remained approximately at the FY2014 level: EUR 732 million, up by 0.68% y-o-y. (Click HERE for more details)

At the end of December 2015, the Greek insurers generated EUR 3.57 billion in GWP, down by 5.8% y-o-y, according to the preliminary market figures published by the Hellenic Association of Insurance Companies (HAIC). (Click HERE for more details)

More about the SEE insurance market evolution in FY2015 will be available in the forthcoming issue of XPRIMM Insurance Report FY2015, to be released on May, 15th, on the occasion of the FIAR - THE INTERNATIONAL INSURANCE-REINSURANCE FORUM (Brasov, Romania, May 15-19).

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